The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-01
WRECKING OF THE FIDELITY
Trial of Harper Proceeds in Uninterest-
ing Style Until Wiltshire Appears.
But When That Gentleman Tells What He
Knows the Defense Shows Great Surprise
and Judges and Jury Are Much Interested


per was resumed to-day in the United States
Court a long time after the appointed hour, ow-
ing to the absence of juror who obtained leave,
last night, to go home and arrange his business.
The first witness was j. w. Hoyt, broker of
this city, whose testimony gave in detail numer-
transactions in the buying of wheat in Chi
cago by him When asked for whom he was
acting, he answered that B. e. Hopkins, assist
ant cashier of the Fidelity bank, made the pur-
chases, but the settlements were always made
by E. l.. Harper. These transactions began In
January last. They were the ordinary specula-
tors purchases where no wheat is seen, but set
Elements made according to how the market
runs. Hoyt said Hopkins gave him checks
signed by himself, and with these he purchased
of the Exchange clerk at the Fidelity Bank drafts
and letters of advice in favor of Green q Co. and
c. j. Kershaw & Co., of Chicago. The witness
said he went to Chicago the day after the wheat
market broke and went to the Exchange Ma
tional bank. While there he met j. W. Will
shire Kershaw. Irwin, and several of the bank
officials. While there he received two drafts for
500. 900 each, executed by the Fidelity National
bank. Mr.. Hoyt said he had no personal trans
actions with E. L. Harper; did not know him.
c. J. Kershaw. of Chicago. was the next wit
ness. He said he had been a grain merchant
for twenty-five years. His testimony linn
tied to identifying checks, drafts and letters of
advice sent him by Mr.. Hoyt and the Fidelity
Bank. On examination he said he had no
transactions with e. L. - harper. Eyerything
Eckert & Co. All drafts upon the Fidelity Bank
were honored.
Montreal at Chicago, testified that Irwin, Green
&c Co. deposited in his bank, IN June last. two
drafts for 100000 each drawn by the Fidelity
National Bank upon the Chemical National
AMI of PAYMENT STONED.
A. W. Green, of the firm of Irwin. Green q
Co, of Chicago, was next called. He testified
that he made purchases of wheat for j. W.
Hoyt to the extent of nine million bushels. Hoyt
gave security for part of the purchases IN drafts
and letters of advice from the Fidelity stating
| that he had money deposited there to his own
| credit There was over 800, 900 in the Fidelity
bank TO the credit of Irwin. Green q Co. The
Defense on oss-examination again emphasized
the point that the witnesses firm had no transac-
| tions whatever with E. l.. Harper; that every
| thing was done through the brokers named
Robert NJ. Orr, assistant cashier of the An; Amer
| identify the drafts referred to by Mr.. Hoyt.
| Mr.. Eckert of Wiltshire, Eckert q O.. of Gin
cinnati, followed He testified to deals with
January last till June and said they sent about
| 81 900. 900 to Chicago to kershaw & Co When
asked where he got the money he said he could
| not exactly tell He supposed it came from
| parties interested in the wheat deal. He was
| then shown some checks signed by himself and
Wiltshire, and was asked again where the money
| came from. He said ''All had to do when
| calls were made us was to go to the Fidelity
Bank and give our checks for that amount
Where the money came from L do not know.
When these checks were drawn we did not have
that amount in bank"
j. W. wiltshire partner of Eckert. was next
called. He identified checks aggregat1ng ST.
300 OOO drawn by j. w. Wiltshire and Endorsed
by Wiltshire. Eckert & Co. He said that either
himself or Mr.. Eckert had indorsed the checks
| He said there was understanding between
| him and Mr.. Harper that these checks should be
protected. He made it clear that he acted in all
| this wheat deal as the agent or broker of b. L.
Nj wiltshire did not look at Harper once
while he was the witness stand The latter
| turned red when he heard his former associate
| giving such damaging testimony Major Black
| burn and Judge Wilson, counsel for the defend
| ant, looked at each other in establishment, but
| they did not betray any trepidation The jury
| listened very closely to Wilshires testimony,
| and Judges jackson and Sage showed their in
/ terest by asking occasional questions.
Question-Now. Mr. Wiltshire, you have testi-
| fed that these checks were received by the
| Fidelity under arrangement made in each
| instance between yourself and T. L. harper
| Please state what the arrangement was with
| reference to the wheat deal
| Answer-Well, the arrangement was simply
| that he was to protect the wheat that he was
| carrying through That is, when we were
| called on for money we were to get 1T from him.
| In regard to the checks, the understanding was
| that he to take care of them when they
| were deposited, and presume he did it.
| Q.-How often did you see Mr. Harperf
| A.-Nearly every day.
| O.-Sometmes more than once day.
| A.-Occasionally; yes sir.
O.-How much wheat did you buy in the ag-
| gregate?
| A-There must have been, all told, nearly
| %, O00 600 bushels; that is, bought and sold OF
course. some was bought and sold again. 1t
| would change from one month to another We
| would buy one month and make transfer. 1t
| was really purchase and sale.
/ Q.-What was the amount you had on hand
| at the time of the break
| A-Well. over $4,000 900 bushels of cash
| wheat, and have forgotten the amount of OPP
| tons
| Q.-About how much?
| A-Well, about five or six million bushels
Q-Then you must have had about twenty
| million bushels in round numbersf
| Ayes, sir.
Q-Do you know approximately, how much
loss you sustained on that amount!
A-No, sir AS / said, it is very difficult for
| us to arrive at that until we get account of
sale from Chicago. We can't tell the prices they
| sold out at
| The Court-How much was the fall in wheatl
A.-Twenty cents a bushel
Q-You then had 1000, 900 bushels Of cash
wheat2
Q.-That would be $4,000 on every million9
A-No; 5000, 00O
Q.-What the fall in option wheatl
About the same. | think that they suS-
tanned the ratio on the decline that they
| had previous to that.
Q-Then the loss was about 100000 on every
| million bushels of wheati
A-That would depend entirely on how they
| sold it out. They must have sold some out be-
| fore the extreme decline
| Mr. Burnett-For whom you carrying
| all this wheatl
| A.-For E. L. Harper. The arrangement was
that he was TO furnish the money to margin
this wheat to a point where the banks and
brokers of Chicago would carry it. 1t was all
bought as option wheat but whenever the
| option would mature we were Obliged to receive
| it and pay for it.
| Q.-Will you state whether not you went
to Chicago on the night of June 14a
| Ayes. sir.
O-Who went with vou7
AIR. Hoyt met me in Chicago. Mr.. Gahr
went with me-
Q-What had Mr. Harper given you on credit
for use in Chicagol
Ale gave me an envelope which contained
5000. 000 / put it in my pocket and started for
the train. didn't open the envelope; only know
what he told me-
Q.-When did you next see it!
| A.-When l arrived at the train Mr.. Gahr was
there and said to that he was instructed by